Hope Springs Eternal

We can only hope that ATSG (Airborne) is able to create the promised 259 new, good paying $25 per hour jobs related to the new hangar nearing completion at the Air Park. In addition to the more than $500,000 that local tax payers contributed directly to the project the state of Ohio has given grants, low interest loans and tax credits to finance the $15.5 million construction costs of the joint use maintenance and paint (JUMP) hangar. The cash poor Clinton County Port Authority is granting a $270,000 annual rent reduction to ATSG as well

In addition a 23 year TIF agreement will divert the property tax normally paid on commercial property away from the city, city school district, county and township. The idea is that tax revenues generated by the new hires will offset the loss of other revenue streams.

I use the word “hope” advisedly because the below report is not encouraging.

http://www.daytondailynews.com/news/news/state-regional-govt-politics/taxpayers-to-learn-soon-what-fuyao-deal-cost/nfyHk/

An annual report by the Ohio Attorney General shows that 45 percent of those that received state help for development projects didn’t live up to their promises in 2012. Statewide, of the 266 development awards reviewed by the AG’s office, 120 fell short of meeting their promises while 146 met at least 90 percent of their pledges. The compliance rate has fluxuated: 55 percent in 2012, 63.5 percent in 2011, 59 percent in 2010.

Paul Hunter